Author: Elite Consulting, P.C. | | Categories: 2026 Tax Changes , Gambling Loss Deduction , Gambling Tax 2026 , IRS Tax Changes , Phantom Income , Proactive Financial Planning , Proactive Tax Planning , Tax Consulting Firm , Tax Filing Tips , Tax Law Changes , Tax Planning , Tax Policy Changes , Tax Savings , Tax Strategies , TrumpTaxPlan
Starting January 1, 2026, the IRS will limit how much of your gambling losses you can deduct. Instead of writing off 100%, you’ll only be able to deduct 90% of what you win. That means you could owe taxes—even if you broke even. Here’s what this “phantom income” rule means and how to prepare for it.
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